Orchid Island Capital, Inc. (NYSE:ORC) Plans Monthly Dividend of $0.12

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Thursday, April 10th, Wall Street Journal reports. Investors of record on Wednesday, April 30th will be given a dividend of 0.12 per share by the real estate investment trust on Thursday, May 29th. This represents a $1.44 annualized dividend and a yield of 23.82%. The ex-dividend date is Wednesday, April 30th.

Orchid Island Capital has raised its dividend payment by an average of 8.3% per year over the last three years. Orchid Island Capital has a dividend payout ratio of 240.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Orchid Island Capital to earn $0.43 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 334.9%.

Orchid Island Capital Stock Down 6.4 %

Shares of Orchid Island Capital stock traded down $0.42 during trading on Thursday, reaching $6.05. The company’s stock had a trading volume of 7,503,010 shares, compared to its average volume of 2,300,363. The business’s 50-day moving average price is $8.07 and its 200-day moving average price is $7.95. Orchid Island Capital has a 52 week low of $5.69 and a 52 week high of $9.01. The firm has a market cap of $563.96 million, a PE ratio of 10.08 and a beta of 1.68.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. Equities analysts predict that Orchid Island Capital will post 0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ORC shares. StockNews.com cut Orchid Island Capital from a “hold” rating to a “sell” rating in a report on Thursday, March 27th. JMP Securities reissued a “market perform” rating on shares of Orchid Island Capital in a research note on Thursday, January 23rd.

About Orchid Island Capital

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company’s RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.